Someone got crushed in 2 Yrs. Notes

Discussion in 'Trading' started by Nasdaq5048, May 10, 2006.

  1. A stop of 26K was triggered at around 11:40. The market went from 10124 to to 10201 and back to 10124 in a couple of minutes.

    Anyone on the floor know what happened? I think someone has to type in the wrong quantity. How can you put a stop for 26K when the market is doing less than 200K a day 2 hours before the FOMC?

    I think the guy/fund who bought it at the stop must be crying now or he knows in advance the FED is done. We'll see!
  2. BigMike


    I saw the move happen....took the near eurodollars with them a couple of ticks and then back to reality. The people that got screwed were those trading curve with auto-spreaders. They most likely paid up and then saw everything come back.

    Farther out treasuries did next to nothing.

    Nice gift for resting orders above i guess.

    That is all.